Copra market in Asia

Earlier Report Observations

The copra market in Asia experienced notable fluctuations between 2018 and 2023. After starting at 5.1 million tons in 2018, market volume gradually declined to 4.9 million tons in 2019, a period marked by rising export prices and the emergence of kiln-dried copra as a quality alternative to traditional sun-dried product. The most severe contraction occurred in 2020, when the market fell sharply to 4.3 million tons, primarily due to global supply chain disruptions caused by the COVID-19 pandemic, which affected production, logistics, and prices.

A recovery phase began in 2021, with the market growing to 4.7 million tons and then surpassing 5 million tons in 2022. This rebound was driven by sustained health and wellness trends boosting demand for coconut oil and copra-based products, coupled with active government procurement schemes in India that provided price support to farmers and stabilized supply. Despite continued strong fundamentals, including a growing crude coconut oil market and robust procurement activities, the total copra market volume receded slightly to 4.9 million tons in 2023.

Technological advancements and diversification into new applications shaped the market throughout the period. The increased use of copra meal as a protein-rich ingredient in animal feed, driven by rising meat production demand, created an additional consumption channel. Furthermore, regulatory focus on food safety, including aflatoxin testing, and ongoing challenges from climate variability and pests influenced production quality and costs.

Production copra in Asia

In kind, 2017-2020, K t

Top producers of copra, 2017-2020

World map of production of copra, 2017-2020

Asia's copra production has declined for the second year in a row. In 2020, the region produced 4 294 thousand tonnes of copra, representing a 12.2% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 12.8%, with an average annual decline of 4.5%. The highest production level was recorded in 2018 at 5 028 thousand tonnes, which also saw the largest annual increase of 2.1%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports copra from Asia

Exports in kind, K t

The market showed an unstable trend throughout the period. Exports reached their lowest point in 2019 at 2.7 thousand tonnes, then peaked in 2018 at 74.3 thousand tonnes, representing a 28-fold difference between these years. In 2020, Asia exported 48.8 thousand tonnes of copra, marking a dramatic year-on-year increase of 1,738.1%. The largest decline occurred in 2019, when exports fell by 96.4%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

After rising for two consecutive years, Asia's copra exports in value terms declined. In 2020, the region exported $61.0 million worth of copra, showing a sharp decrease of 38.0% compared to the previous year. Between 2017 and 2020, exports increased by 2.8% overall, equivalent to an average annual growth rate of 0.9%. The highest value was recorded in 2019 at $98.4 million, while the largest annual increase occurred in 2018 at 55.6%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, Egypt consistently served as the primary buyer of copra from Asia, accounting for 0.9% of total export value throughout this period.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports copra to Asia

Imports in kind, K t

Following two years of contraction, Asia's copra imports increased. In 2020, the region imported 80.8 thousand tonnes of copra, representing a moderate 4.4% increase compared to 2019. Between 2017 and 2020, imports decreased by 48.1% overall, equivalent to an average annual decline of 19.7%. The lowest import volume was recorded in 2019 at 77.4 thousand tonnes, which also saw the largest annual decrease of 46.9%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Throughout the 2017-2020 period, Papua New Guinea (accounting for 46.1% of import volume), Vanuatu (12.0%), and Solomon Islands (8.5%) were the key sources for Asia's copra imports, together representing 66.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

After two years of reduction, Asia's copra imports in value terms increased. In 2020, imports were recorded at $70.2 million, representing a significant 36.1% increase year-on-year. Between 2017 and 2020, imports decreased by 56.7% overall, equivalent to an average annual decline of 24.4%. The lowest value was recorded in 2019 at $51.6 million, which also saw the largest annual decrease of 55.4%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, Papua New Guinea (accounting for 39.6% of import value), Vanuatu (10.5%), and Solomon Islands (8.2%) were the main suppliers of copra to Asia, together comprising 58.3% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020